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Mirabela appoints Craig Burton as Chairman

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

ASX Code: MBN

TSX Code: MNB

PERTH, Australia, Dec. 4 /CNW/ - Mirabela Nickel Limited (ASX: MBN, TSX:MNB) is pleased to announce that Mr Craig Burton has been unanimously elected as the new Chairman following the decision by Mr Bill Clough to step down. The change takes place as of today. Mr Clough will continue to serve on the Board as a non-executive director.

In announcing the change Mr Clough said "I am delighted to be able to hand over the Chairmanship to Craig at this stage of the Company's evolution. He has provided tremendous input to the development and financing of the Santa Rita nickel sulphide project and his skills and experience will be invaluable in providing the strategic leadership required for the Company's future success as a nickel producer."

This change follows the recent appointments to Mirabela's Board of Mr Ian Purdy as CEO/Managing Director and Colin Steyn as a non-executive director.

For and on behalf of the Board
Ian Purdy
Chief Executive Officer
Background

Mirabela Nickel Ltd owns 100% of the world class Santa Rita nickel sulphide project and is listed on the Australian and Toronto stock exchanges. With a JORC/NI 43.101 proven and probable open cut reserve of 121Mt grading 0.60% Ni for 726,000t of contained Ni, Santa Rita is the largest nickel sulphide discovery worldwide in over a decade.

Construction of Santa Rita is now complete and commissioning is underway. The operation is expected to ramp-up to a capacity of 6.4Mtpa of ore producing 26,000tpa of nickel in concentrate. Current reserves support a mine life of at least 19 years.